Italian Stocks: Azimut, Fiat Industrial, Impregilo, STM, Tod’s

Jan. 11 (Bloomberg) -- Italy’s benchmark FTSE MIB Index
rose 280.87, or 1.4 percent, to 20,339.05 at the 5:30 p.m. close
in Milan, ending two days of declines.

The following stocks were among the most active in the
Italian market today.

Azimut Holding SpA (AZM IM) advanced for the first day in
three, rising 4.6 percent to 7.06 euros. Deutsche Bank AG
reiterated a “buy” rating on Italy’s largest independent fund
manager after “Azimut signed an agreement which will lead to
the establishment of a newco in Hong Kong.”

The brokerage said that “this area will help contributing
to the 1 billion-euro ($1.3 billion) yearly net inflows we have
as an estimate for 2011 and 2012.”

Banca Popolare di Milano Scrl (PMI IM) increased 2.4
percent to 2.55 euros. Societe Generale SA lifted its stance on
European banks to “overweight,” saying in a note that “a bout
of bank outperformance is around the corner,” and “the banking
sector is very oversold relative to the market.”

Fiat Industrial SpA (FI IM) surged 5.4 percent to 10.16
euros, gaining for a fourth day. The company expressed interest
in buying Volkswagen AG’s stakes in MAN SE and Scania AB should
VW put the holdings up for sale, Fiat’s two top executives said.

“We’re not a seller of assets, but at Fiat we are
potentially acquirers if Volkswagen wants to divest its truck
assets,” Fiat SpA Chief Executive Officer Sergio Marchionne
said at the Detroit auto show today. Spokesmen for MAN, VW and
Scania all declined to comment.

Impregilo SpA (IPG IM) jumped 6.6 percent to 2.18 euros,
ending four days of losses, as shares of Italy’s largest
construction company rose above their 20-, 50-, 100- and 200-day
moving averages.

Pininfarina SpA (PINF IM) climbed 13 percent to 5.75 euros,
the highest price since October 2008. French entrepreneur
Vincent Bollore sent a letter to Italian auto designer
Pininfarina about 15 days ago expressing his interest in
investing in the company, daily Il Messaggero reported.

Piquadro SpA (PQ IM) surged 5.5 percent to 2.40 euros, the
highest price since its listing in 2007, as revenue for the nine
months that ended on Dec. 31 rose 19 percent to 43.9 million
euros, the company said in a statement. Piquadro reported that
its third-quarter sales increased about 21 percent.

STMicroelectronics NV (STM IM) advanced 5 percent to 8.66
euros, snapping two days of declines. Exane BNP Paribas
reiterated an “outperform” rating on Europe’s largest
semiconductor maker, citing in a note an “attractive
risk/reward” profile and saying that “we believe STM is again
winning market share and growing margins.”

Tod’s SpA (TOD IM) increased 5.1 percent to 78.81 euros,
its largest gain since August. The luxury-goods maker was raised
to “buy” from “underweight” at Gruppo Banca Leonardo, which
said in a note that “we appreciate the increase of the free
float and we believe that the current share price is a buying
opportunity, given the company’s strong fundamentals.”